GBP/USD trades below 1.4200

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Monday, the GBP/USD traded below the 1.4200 mark, which provided resistance. In the meantime, support was being provided by the 100 and 200-hour simple moving averages near 1.4160.

In the case of the rate surging, it would once again test the resistance of the 1.4200 mark. A passing of this level would encounter resistance in the zone above the 1.4220 level.

On the other hand, a failure of the 100 and 200-hour SMAs to provide support could result in a decline to the weekly S1 simple pivot point at 1.4119.
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Mon, 31 May 2021 11:20:11 GMT

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